Earnings release
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1 Technogym continues to grow: +14% • Consolidated revenue: Euro 708.5 million, +14% compared to the first nine months of 2024 (+15% at constant exchange rates) • Growth of both the commercial (BtoB) and Consumer (BtoC) segments • ESG: Technogym promoted to ‘Platinum Medal’ by Ecovadis *** Nerio Alessandri, Chairman and Chief Executive Officer, commented: “Technogym’s constant growth confirms the strength of our brand and the robustness of our business model, which effectively serves diverse consumer clusters and multiple operator segments, driven by our ongoing capacity for innovation. Our long-term investment strategy in the Technogym Ecosystem and in Artificial Intelligence continues to create value by delivering unique, connected, and personalized solutions for Fitness, Wellness, Health and Sport. We have just launched, in partnership with World Athletics – the global governing body for track and field – RUN X, the first-ever Treadmill Running World Championship, a new global initiative that will revolutionize e-sports with the goal of democratizing running and making it accessible, regardless of weather conditions and safely, in fitness and wellness clubs all over the world. Technogym’s passion for sport has deep roots, and today, exactly 100 days before the start of the Milan-Cortina 2026 Olympic Games, we are proud to celebrate our tenth participation in the Olympics as Exclusive and Official Supplier.” ***
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2 Cesena (Italy) October 29th 2025 – The Board of Directors of Technogym S.p.A. approved the consolidated revenue for the nine months of 2025, prepared in compliance with the International Reporting Standards issued by the International Accounting Standards Board. Total revenues of the first nine months amounted to Euro 708.5 million, growing +14% (+15% at constant exchange rates) compared to the same period of 2024 thanks to a balanced growth rate of BtoB and BtoC, both supported by very positive results in all the regions where the Group operates. A brief overview of consolidated revenues is provided below based on: ü Customer segments ü Geographical areas ü Distribution channels Revenue by customer segments (in thousands of Euro and percentage of variation year over year) 9M as of Septmber 30th 2025 2024 25 vs 24 % BtoC 140,573 127,691 12,882 10.1% BtoB 567,891 493,910 73,981 15.0% Total revenue 708,464 621,601 86,863 14.0% Revenues as of September 30th recorded a significant growth of both BtoB (+15%) and BtoC (+10.1%) businesses, confirming the positive trend already posted in the first six months of the current year. The BtoB business continued to be supported by double digit growth across all underlying customer segments. Revenue by geographical areas (in thousands of Euro and percentage of variation year over year) 9M as of September 30th 2025 2024 25 vs 24 % Europe (net of Italy) 328,417 293,723 34,694 11.8% AMERICAS 118,372 95,741 22,631 23.6% APAC 92,753 86,283 6,470 7.5% MEIA 92,490 81,319 11,171 13.7% Italy 76,432 64,535 11,897 18.4% Total revenue 708,464 621,601 86,863 14.0% The Group reported growth across all geographical areas. In the Americas, the growth trend further improved compared to the positive performance achieved in the first half of 2025. The strong positive trend continued in Europe and the Middle East, while the growth trajectory in APAC also showed improvement.
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3 Revenue by distribution channel (in thousands of Euro and percentage of variation year over year) 9M as of September 30th 2025 2024 25 vs 24 % Field sales 470,863 405,182 65,681 16.2% Wholesale 169,488 154,825 14,663 9.5% Inside sales 44,665 45,745 (1,080) (2.4%) Retail 23,448 15,849 7,599 47.9% Total revenue 708,464 621,601 86,863 14.0% From a channel perspective, the positive performance of the Consumer business is primarily driven by the Retail channel, which benefits from a stronger market presence and increased productivity. Inside Sales also improved compared to the results achieved in the first half of the year. Consistent with the trend observed in the first semester, channels more closely linked to the Commercial business—such as Field Sales and Wholesale—continued to deliver excellent growth in Q3. Significant events occurred in the period Ecovadis awards Technogym ‘Platinum Medal’ of Sustainability Technogym has been awarded the Platinum Medal for Sustainability—the highest possible recognition—by EcoVadis, one of the world’s leading agencies for corporate sustainability ratings. This achievement places the company within the top 1% of organizations globally evaluated for their sustainability performance. With an overall score of 84 out of 100—an 8-point increase compared to the previous year—Technogym reaffirms its commitment to continuous improvement in sustainability. The assessment covers four key areas: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement. The score increase primarily reflects the significant progress achieved in environmental management, ethical practices, and sustainable purchasing. **** Pursuant to art. 154-bis, paragraph 2 of the Consolidated Finance Act, the executive in charge of the preparation of financial reports, William Marabini, declares that the accounting data contained in this press release is consistent with entries in the accounting books and records.
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4 Investor and Media Relations Contacts: Michele Bertacco Investor Relations Director investor_relations@technogym.com Enrico Manaresi Press and Media Relations Director emanaresi@technogym.com +393403949108 Notes to the press release Technogym Technogym is a world leading brand in products and digital technologies for fitness, sport and health for wellness. Technogym offers a complete ecosystem of connected smart equipment, digital services, on-demand training experiences and apps that allow every single end-user to access a completely personalized training experience anytime and anywhere: at home, at the gym, on-the-go. Over 70 million people train with Technogym in 100,000 wellness centers and 500,000 private homes world-wide. Technogym has been Official Supplier to the last nine Olympic Games and it’s the brand of reference for sport champions and celebrities all over the world. Forward looking statements Certain statements in this press release could constitute forward-looking statements, including references that do not exclusively relate to historical data or current events, and as such, uncertain. These statements are based on a number of assumptions, expectations and other factors that could lead to actual results which differ, even substantially, from those forecast. There are numerous factors that could generate results and trends that are notably different from the forward looking information in this press release. These elements include but are not limited to the ability to manage the effects of the current uncertain international economic scenario, ability to acquire new assets and integrate them effectively, ability to forecast future economic conditions and changes in consumer preferences, ability to successfully introduce and market new products, ability to maintain an efficient distribution system, ability to achieve and manage growth, ability to negotiate and maintain favorable license agreements, currency fluctuations, changes in local conditions, ability to protect intellectual property, problems with information systems, risks associated with inventory, credit and insurance risks, changes in tax regulations, and likewise other political, economic, legal and technological factors and other risks and uncertainties. These forward-looking statements were issued as of today and we shall not be under any obligation to provide any updates and they are not a reliable indication of future performance. Alternative performance indicators This press release provides a number of alternative performance indicators used by management to allow an improved assessment of the business performance and the financial performance and position of the Group. These indicators are not recognized as accounting measures in the context of IFRS and should therefore not be considered as an alternative way to assess the financial performance of the Group and its financial position. Since the calculation of these measures is not governed by the applicable accounting standards, the calculation methods applied by the Company may not be the same as those used by others and therefore these indicators may not be comparable. Therefore, investors should not place undue reliance on this data or information. This press release also contains certain financial, operating and other indicators that have been adjusted to reflect non-recurring extraordinary events and transactions, known as special items. This ‘adjusted’ information was included to allow better comparison of the financial information for all periods; however this information is not recognized as economic or financial data within the scope of the IFRS and/or does not constitute an indication of the historical performance of the Company or Group. Therefore, investors should not place undue reliance on this data or information.